Could an LLC Be the Perfect Fit for Your Small to Medium-Sized Business?
Choosing the right business structure is a critical decision for any entrepreneur. The type of entity you select can significantly impact your taxes, personal liability, and overall business operations. For many small to medium-sized businesses, a Limited Liability Company (LLC) offers a compelling combination of benefits. An LLC can be structured to provide the liability […]
Maximizing Tax Savings: Coordinating Sec. 179 Deductions with Bonus Depreciation
At Accavallo & Company, LLC we understand the importance of optimizing current year depreciation write-offs for businesses with newly acquired assets. To achieve this, businesses can leverage two significant federal tax incentives: the first-year Section 179 depreciation deductions and first-year bonus depreciation deductions. When utilized correctly, these deductions can potentially allow businesses to write off […]